Type: Bullish BounceKey Levels:Resistance: 120'30'5Pivot: 118'07'0Support: 116'17'0Preferred Case:On the H4, with price moving in an ascending trend channel and moving above the ichimoku cloud , we have a bullish bias that price will bounce off the pivot at 118'07'0 in line with the overlap support and 38.2% fibonacci retracement to the 1st resistance at 120'30'5 at the swing high.Alternative Scenario:Alternatively, price may break the support structure at the pivot and drop to the 1st support at 116'17'0 at the overlap swing low in line with the two 61.8% fibonacci projections.Fundamentals:US indexes moved moderately higher with better-than-expected US economic reports on Wednesday. Hence, we have a bullish view on the 10-year t-note futures.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/10-year-t-note-futures-zn1-h4-potential-for-bullish-bounce"
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